I know that if I cancel a credit card it can lower my credit score because my overall credit limit goes down. What if I cancel an AMEX charge card? A promotion is coming to an end and I will have to start paying the annual fee. I would rather change to a different card that has no fee, but AMEX won't let me. (It can only be another charge card with a lower fee.) Will canceling it hurt my credit score? And if it will, how long will that last? And is it worth $55 in annual fees to avoid? Thanks! |


